IndusInd Bank will open a representative office in Sharjah as it expands its footprint in the UAE. The Mumbai-based lender aims to serve non-resident Indians (NRIs) and corporate clients across the Northern Emirates.
Rajiv Anand, Managing Director and CEO, said the Sharjah office will be the bank’s third in the UAE. The bank already operates representative offices in Abu Dhabi and Dubai.
DIFC branch plan awaits RBI approval
The bank is also evaluating a branch at the Dubai International Financial Centre (DIFC). Anand said the plan depends on approval from the Reserve Bank of India (RBI).
He said the bank will first secure RBI clearance. It will then apply for a DIFC licence. The proposed branch would deepen its formal banking presence in Dubai’s financial hub.
Focus on NRI and corporate banking
IndusInd Bank opened its first overseas representative office in Dubai in 2003. It later launched a second office in Abu Dhabi. Both offices support NRI customers, high-net-worth individuals and corporate clients.
The bank offers microfinance, personal loans, commercial vehicle finance, credit cards and SME lending. In India, it serves about 42 million customers through more than 3,000 branches and over 3,000 ATMs.
Founded in 1994, IndusInd Bank ranks among India’s top five private sector banks.
Capital strength and growth engines
Anand said the bank maintains a capital adequacy ratio of about 17%. He described the balance sheet as stable.
He identified microfinance and commercial vehicle finance as core growth drivers. The bank also sees potential in SME lending, secured retail loans, gold loans and home loans. In vehicle finance, it ranks among the top financiers for major OEMs.
The lender plans to improve its retail deposit mix and manage costs more tightly. It also aims to increase fee income as part of its medium-term roadmap.
Three-year strategy through 2028
Anand took charge in August 2025. He has since strengthened the senior leadership team and sharpened operational focus.
The bank’s three-year plan runs through 2028. It prioritises automation, artificial intelligence and data analytics. Management aims to grow in line with market trends and gain market share in key segments.
Indian banking outlook remains strong
Anand said India continues to post structural economic growth. He added that banks stand to benefit from this momentum.
He noted that Indian banks hold strong capital buffers and cleaner balance sheets than in previous cycles. Despite global uncertainties, he said the sector remains well positioned for long-term growth.
With its Sharjah office and proposed DIFC branch, IndusInd Bank is expanding its role in one of the largest overseas markets for the Indian diaspora.
